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Bank of Canada to Approve Only High-Quality Stablecoins Tied to Central Bank Currencies by 2026

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Citing Coinomedia, the Bank of Canada has announced that only high-quality stablecoins tied to central bank currencies will be approved under its new regulatory framework set for 2026. The rules require stablecoins to be backed by currencies like the Canadian Dollar or US Dollar, blocking algorithmic and crypto-backed models. The framework aims to counter the financing of terrorism and protect users. The move also reflects ongoing concerns about dollar strength vs crypto risks.
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